On September 29, 2008, the Dow Jones Industrial Average dropped 770 points, the most in any single day up to that point. This stock market crash was preceded by the bankruptcies of major financial institutions caused by the housing crisis. The crash was immediately in response to the U.S. House of Representatives rejecting a bailout bill for these banks. The bailout bill was later passed on October 3, 2008. The 2008 Financial Crisis had a global impact and led to further federal actions like lowering interest rates, additional bailouts and increased financial regulation.
Senator Barack Obama (D-IL) on the Stock Market Crash of 2008
On October 1, 2008, Senator and presidential candidate Barack Obama (D-IL) spoke about the stock market and the failure of the House of Representatives to
